Sunday, August 28, 2011
Procure to Pay (P2P) Cycle in Purchasing
Create Purchase Requisition
Go to Purchasing à Requisitions à Requisitions
Make sure the Type is Purchase Requisition. Enter description.
In the Lines tab, enter the Item, Qty and Need by Date
Enter Source as Supplier, Supplier Name and Site.
In the Source Details tab, enter Note to Buyer and Buyer Name.
Click on the Distributions tab and enter the Charge Account details.
Save the Record. Purchase Requisition Number will be generated. Click Approve Button.
Approve Purchase Requisition
Once the Purchase Requisition is approved, you can verify the status by entering the Requisition Number in the Requisition Summary window
Navigate to Purchasing à Requisitions à Requisitions Summary
Copy the Requisition Number.
Auto Create Purchase Order
Go to Purchasing à Auto Create
Clear the entire field and enter the copied Requisition Number and click Find. Auto Create Document window opens. Click the Automatic Button. New Document window opens. Enter the Supplier Name and Site and click Create.
New Document window opens. Enter the Supplier Name and Site and click Create.
Auto Create Purchase Order Window Opens with Purchase Order Created with Status Incomplete.
Click the Approve button and submit the PO for Approval.
Approve Purchase Order
Once the PO is approved, you can verify by entering the PO number in the Purchase Order Summary window.
Go to Purchasing à Purchase Order à Purchase Order Summary.
Receiving the Item/Receipts into Inventory
Go to Purchasing à Receiving à Receipts
Enter the PO Number and Click Find. Receipts window opens. Check the box in left side. Enter the Quantity received and Subinventory. Save the Receipt.
Go to Purchasing à Receiving à Receiving Transaction Summary.
Enter the PO Number and click Find. Now you can see that the Item is received into Inventory.
Navigate to Payables à Invoices à Entry à Invoices
Enter the PO Number, Invoice Date, Invoice Number, Invoice Amount and Click Match Button.
Find Receipts for Matching window opens. Enter the Receipt Number and Click Find.
Match to Receipt window opens. Click the Check Box on the left. Enter the Qty and click Match and Save.
Now, Click Match Button. Invoice Actions window opens. Check Validate and Validate Related Invoices Check box and Click OK.
Now, you can see the status as Validated.
Now Click the Actions 1 button. Invoice Actions window opens. Check the Pay in Full and Create Accounting Check box and click OK.
Payments window Opens. Enter the Bank Account Details, Mode of Payment and Click the Actions 1 button.
Invoice Actions Window opens. Check Create Accounting and Select Final Post and Click OK.
Confirmation will be displayed.
Now, navigate to Purchase Order Summary window in Purchasing and verify that the PO is Closed.
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Labels: Oracle Purchasing